Stew Hamilton: Mercury Energy CEO on the company's recent drop in profitability

from Best of Business · host Newstalk ZB

Mercury Energy's earnings have fallen on the back of weaker renewable electricity generation, and its bottom-line profit has taken a hit. The company's profit has plunged from $290 million to just $1 million, due to tough power generation conditions. Despite this, Mercury Energy CEO Stew Hamilton is hopeful ahead of another financial year. "We're investing heavily in new power plants - we're investing about $1 billion in new power plants at the moment. That's from the top of the north to the bottom of the south." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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